The success of education technology companies such as Byju’s and Unacademy has prompted investors to back emerging startups in the segment. In February, Byju’s raised $200 million from General Atlantic at a valuation of over $8 billion, while Unacademy secured $110 million from Facebook and General Atlantic at a valuation of over $500 million. GGV Capital, among others, infused $24 million into interactive online tutoring platform Vedantu.
India saw 34 venture capital deals worth $399 million in the edtech space in 2019, according to Venture Intelligence. The top recipients of VC money were Byju’s, Unacademy, Vedantu, Eruditus and MindTickle. Byju’s has become a poster boy…and has shown that the model is commercially viable, said Narayanan Ramaswamy, partner, national lead, education and skilling, KPMG in India.
Courtesyg: Google (photo)
